Wednesday, June 12, 2013

Nigerian Oil Tycoon Loses £17.5m Divorce Settlement to his British Wife

Culled from Dailymail:

Nigerian oil tycoon, Michael Prest, 51, lost a legal fight with his estranged English wife today in a landmark court case over a £17.5m divorce settlement. The Supreme Court ruled that properties owned by Michael’s companies did count as his, and therefore should be counted as his assets in the high-profile divorce battle between him and ex-wife Yasmin, 50.

Lawyers say the decision, which overturned an earlier Appeal Court ruling that Mr Prest's companies could not be taken into account when calculating the divorce payout, could have significant implications for divorcing couples.



This morning's Supreme Court judgment, which followed a hearing in London in March, was the latest round of a lengthy legal battle between the couple, who married in 1993 and spent most of their time in their £5m matrimonial home in London's Maida Vale.

Mrs Prest, who has four children by her ex-husband, said after the decision was announced: 'I'm delighted and relieved that the Supreme Court has ruled as it did.
'I'm grateful to the judges for the care and thought they gave the case.  It is more a case of satisfaction and relief than celebration.
'None of this would have been necessary if Michael had been sensible and played fair.'

In October, the Court of Appeal ruled that Mr Prest did not have to hand property worth millions of pounds to Mrs Prest. Appeal judges concluded that a High Court judge had earlier wrongly ordered Mr Prest, who is now based in Monaco, to transfer properties held in the names of offshore companies he controlled.

Their decision came after Mr Prest claimed that the millions of pounds held in cash and property by companies he owned did not count as his assets. Mrs Prest then asked the Supreme Court - the highest court in the UK - to analyse the case.

Judges heard that the couple, who married in 1993, spent most of their time in London, had properties in Nigeria and the Caribbean and lived to a 'very high standard'. They were told that Mr Prest claimed to be worth about £48m, but Mrs Prest said he was worth 'tens if not hundreds of millions' of pounds.

Mr Prest, who now faces having to pay an estimated £3m legal bill, was not in court to hear the judgement as seven Supreme Court justices unanimously allowed Mrs Prest’s appeal today.

Supreme Court President Lord Neuberger, and Lords Sumption, Clarke, Mance, Wilson and Walker and Lady Hale said that the companies were held in trust for the husband and became family property.
They ruled that under English law in certain circumstances the courts can 'disregard' and 'pierce the corporate veil' in order to reach the assets.

They concluded that seven properties held by Mr Prest’s Petrodel Group were properties to which he was 'entitled' - even if he did not own them personally -  and therefore should be counted as assets in the couple's divorce.

However justice Lord Sumption warned that it was not possible to generalise about whether a company's owner was always entitled to its assets.

He said: 'Whether assets legally vested in a company are beneficially owned by its controller is a high fact-specific issue. 'It is not possible to give general guidance.'

He said judges were sometimes entitled to ask whether 'terms' were really what they were said to be or 'simply a sham'.

94 comments:

  1. Like Lucabracee would say, it is not safe to marry a white woman if you are a wealthy man

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    1. lol. Word!
      Weirdly, I was just thinking about this case today and was wondering where they were on it, now I know. I'm sure the children will hate their father thoroughly by now.

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    2. hahahahahahahaha abi oh. they say African womem are materialistic. these ones will take you to the cleaners baje baje.

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    3. shut your dirty mouth, am happy he will pay her money cos you Nigerian men thnk you are Gods gift to humanity....you treat women anyhow and get away with it...good for his sorry arse. after struggling with them they will start dogging around other women....

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    4. lol,leave them o let them continue they ll be learning their lesson one by one

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    5. £17million? Damn! That's a lot of money..they gat me thinking.

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    6. anon 21:12 God bless u. Nigerian men should keep going thru things lik dis. serves dem rite! Very Mean, proud and wicked people! only a few a genuinely good men in nigeria...Just a few. The rest are Terrible!

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    7. She is the sister of Hajiya Amina Ibrahim of Millenium Dev Goals Half nigerians

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    8. She is sister of Amina Ibrahim of MDG Goals of Gombe. Halfcaste

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    9. She is the sister of Hajiya Amina Ibrahim of Millenium Dev Goals Half nigerians

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    10. wow so she is NIGERIAN?that means she intentionally dragged him to uk where they have the fairest divorce laws favouring women looool
      the man is a bit clueless and naive for a billionaire why didn't he do only church wedding in NIG,in this day and age i trust the likes of donald trump,richard murdoch and co

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  2. Duh, she's a Nigerian

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    1. Go back to school!

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    2. Duh. She's not. Ignoramus

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    3. haha@ignoramus
      visit this blog for red carpet pictures.click here

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    4. Yes she is nigerian and grew up in the north........ MRS IGNORAMUS why dont u get ur facts right before calling others name. silly 4.23

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    5. wow anon 22:29 you are a capital fool. You are mixing up billionaires and you still have mouth. OK let me enlighten you. The man above is michael prest married to the white woman whose picture is up there. At least if you can't read, you can see?
      Now there is another guy called dehinde fernandez who is married to Haleema who is from Kano. Do you spot the difference? I think you should give yourself a slap on the face. And next time, don't be too forward like a boy scout

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    6. wow anon 22:29 you are a capital fool. You are mixing up billionaires and you still have mouth. OK let me enlighten you. The man above is michael prest married to the white woman whose picture is up there. At least if you can't read, you can see?
      Now there is another guy called dehinde fernandez who is married to Haleema who is from Kano. Do you spot the difference? I think you should give yourself a slap on the face. And next time, don't be too forward like a boy scout

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    7. Yasmin Prest is not a white woman ooooo. Get your fact right . Does that look at white woman (ode oshi )
      She is half fulani from the north , and her sister is Amina Zubair former SSA to president Goodluck Jonathan. She grew up in Nigeria .

      You dont knw her yet u call others a CAPITAL FOOL, stupid much . Why dont u give urself a hot slap for ur dumbness.

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    8. @5.00 be sure of what u say b4 u insult others.
      Yasmin Aishatu Mohammed Prest is half Nigerian and grew up in Nigeria . She is about 50 now and got married to Michael in 1993 . She never worked and has been a housewife with 4 children . Her sister who is more well known Amina Zubair , schooled in Kaduna. If you dont knw her sister Amina Zubair , Google can educate you

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    9. I recall Amina Az-Zubair as i have worked with her from a distance , very well spoken woman and light in complexion . So this is her sister ...... money is good ooo. All these fulani/hausa women are so classy . Amina Az-Zubair (nee Mohammed) smells of money from a mile away .

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    10. wow wow Anony 5.00 hahhahahahha so blc she is light skinned then she is a white woman . lol . Gosh too many bush people in nigeria. This woman is clearly mixed at best and not a pure caucasian . if the people who knw her say she is part Nigerian , hw can u sit in the village there and insult others when clearly this woman is not white.

      PS: i checked out Amina Az-Zubair on google and they do look alike . Lovely complexion by the way

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  3. I hope she uses the money to fix her face.

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    1. if my wife look like that later in life, i will gladly pay her 17million to leave, see the woman sef the guy must be kicking himself say this wowo thing go come collect that kind money.

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    2. anon 04:40 u are def a child at heart and an idiot for saying such!

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  4. No be u wan marry whitie......see her face self pshewwww

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  5. Gold digger!...... Pls click HERE for hot naijagist

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    1. Please think or use google before you type.
      How is she a gold digger? Its the law and since you know nothing about that, I suggest you keep it moving.
      If its not about tuface or iyanya, they are just clueless.
      Smh

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    2. You are very stupid to call her a gold digger. She gave him for children, had to deal with his cheating habits (after all, all of una dey talk say men cheat). She deserves the money and more!!!

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    3. Lmao @ "if its not tuface and iyanya"...

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    4. anon 07:50..Lmaoo! as in d guy is not xposed so hu is he to yarn abi? lol. Local bunch of Nigerians! and no we will NOT click for any nonsense Hot naija gist! go away! this way >>>>>>>>>>>

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  6. Gbese! This white woman is mean O°˚˚˚˚˚°

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    1. No she isn't mean. Dat is d law and I think u should enlighten urself so dat u r not cheated in future. If anything, it is d man who is mean; tryn to hidr his wealth!

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  7. Serves him right, wen beautiful babes full niger dey troway! Him go marry urgly white lady and also invested all he has in uk, doesn't make sense @ all.

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    1. @debby beautiful babes 4 naija ke??I neva c any naija woman wey fine reach dis white lady o.Whitewomen all d way

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    2. well the lady in question is a Fulani from the North who has never work in her life but like the life of a super rich.

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    3. Fulani???? I laugh in afrikaans.You are very foolish

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  8. This is veeeeerrrrrrrry good,vvveeeeerrrrrryyyy gooood for self hating black men.....serves him right....he couldn't find any gorgeous black woman to marry,na dis ugly fish he see.....good for him. Hahahahahahahahahaha

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    1. Anon21.44 gorgeous 'black' women 4 where?Bleached,fake hair wearing like rukky sanda?or mannerless,attention-seeking and rude like tonto dike?Pls pocket dat ya yarn 4 pocket.White ladies rock anytime anyday

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    2. You are soooo ignorant, if not for the so called white woman, would his poor self have had the chance to better himself education wise thereby going back to Naija to suck your oil money.... She gave her time and four children regardless of her skin colour and he thought he could just dump her like that for calabar chick... I pity you Naija women, instead of you to be praying for laws that protect your sorry asses from men like these you are complaining that he married a white woman.... Do you know how many Nigerian women suffer in silence because their useless husbands have girlfriends and even marry new wives, do you know how their children don't have the chance for good further education cos their useless fathers divorced their mothers and don't want to pay cos of other women... Think you all think

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    3. Wo, anon 9:30, God will bless you for your comment. Don't mind our stupid, airhead women in Naija. These otondos are yabbing her cause she is white, instead of hailing the judgement as sound for a woman that gave a man 4 children and supported him until he became rich. Instead of these twats to be fighting for the same laws here, they are yabbing the girl, bleaching their skin and buying someone else's hair. Make una continue o. That is why white women will always be better than you he-goats

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    4. @anon 23:42... Seriously?! You're very mistaken if you think there re no beautiful, gorgeous, "black", well behaved women in nigeria. Its just wicked to judge the Nigerian women folk based on the likes of tonto and rukky sanda. I find that insulting... For what nah?!


      @anon 9:30 I kinda agree wiv the law part o. Nigerian women need laws to back them up and protect them from the abuse they get from men. Maybe that'll make the men sit up and treat us better. Am sick of men abusing women, getting away with it and even being celebrated for it. Really sad situation. :(

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    5. @kanyinsola am impressed u didn't reply my comment wit an insult.I am sorry 4 making such an insensitive comment

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    6. I love the responses to anon 21:44. Anyone can marry who they want, we need to stop castigating those who marry outside their ethnicity.
      Also if we had laws like this in Nigeria, a lot of men will sit up.
      Lastly, you think being married to a black man would make him immune from revenge from the woman. As a matter of fact, it is worse with Nigerian women because lots of them will just poison him with juju, clean their mouth and continue living. They will even cry the loudest at the funeral, threatening to throw themselves into the grave.

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    7. I love the responses to anon 21:44. Anyone can marry who they want, we need to stop castigating those who marry outside their ethnicity.
      Also if we had laws like this in Nigeria, a lot of men will sit up.
      Lastly, you think being married to a black man would make him immune from revenge from the woman. As a matter of fact, it is worse with Nigerian women because lots of them will just poison him with juju, clean their mouth and continue living. They will even cry the loudest at the funeral, threatening to throw themselves into the grave.

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  9. Fuck you and your racist comment !! Are black women any better ??? Better go check your statistics and come back to us ! Ignorant ass!

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    1. Fuck you too.....idiot! See your mouth like "are black women any better"? Hell yeah! They are better.

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    2. Oh Shot it! anon 05:48 you are a nincompoop! I am black and i know many black women today are terrible.. Be Truthful to ur own self! Ode! instead of u to pray to b beta..be der supporting rubbish..mtchew!

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    3. Say what?? And you are the bigger Ode and a nincompoop for the nonsense you just wrote! Must you insult someone or call them ode because you have something to say? Why didnt you call anon 21:51 ode or a nincompoop when they asked if black women were any better? maybe you are anon 21:51 sef. Abeg shut the fuck up and get lost.........

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  10. If it was a nigerian woman, he wld leave her wit nothing. Good for una wey dey marry white woman.

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    1. thats why Nigerian women have to open their eyes!

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  11. ...And Lucabradsi later swam with the fishes. Dead meat!

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  12. Stick to your own kind !! Hahaha good for you mr prest

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    1. What rubbish are you chanting.... This is not about colour, this is about a man maltreating his wife and then trying to run away... Ladun you did not report this well at all.

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  13. So it serves him right because he decided to marry a white woman? What if he loved him and all she thought about was divorcing him and taking more than half his money because he's a billionare? Naija and white women are all the same. Gold diggers oshi!!!!

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  14. poor thing
    obyazike.blogspot.co.uk

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  15. So Nigerian women should now be shafted because they are NIgerian? Abeg, she married him, had his kids and she should leave with nothing? All you self hating bitches should just go and get married and when he gets tired, he'll throw you out on the streets with nothing. You can congratulate yourselves on being a good Nigerian girl then. Idiots

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  16. They wont hear word. I work somewhere with a lot of very wealthy nigerian male doctors. One day they were all argueing and out of 10 of them, 8 agreed that only white women can understand the level of their wealth and nigerian women dig way too much gold. I was shocked and they are all either married to white women and or dating them. I will be right here, when these bastard white women pull a "yasmin prest" on their arrogant medical behinds

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    1. LOL. DIS IS KIND OF IGNORANT OF D DOCTORS. HOW CAN ONLY WHITE WOMEN UNDERSTAND WEALTH? HAVE ANY OF THEM TRIED NAIJA WOMEN BORN AND BRED WIT SILVER SPOONS. MONEY AINT NO OBJECT AND NOT A BIG DEAL TO GIRLS LIKE DAT. OYIBO WOMEN WILL LEAVE YOU HIGH AND DRY IM SURE THEY KNOW DAT IN D BACK OF THEIR MINDS

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    2. Doctor money no reach dis level o, abeg

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  17. Hahahaha......this is what happens when you think oyinbo women are better than your own people. As for all you niaja men that think marrying Akata or oyinbo women is better......no problem na! Maximum 10years before they start showing their true colors! If you like insult me, it's the fact cos we see them all the time. When these Akata and oyinbo women Jabo them with nothing, they will now start looking for niaja women to marry. Nonsense!

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    1. shut your stinking mouth, are your Nigerian women better? is it not everyday we see stories of rubbish in Nigerian marriages on our blogs and papers? mtchweeeeeeeew

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  18. Omg
    www.christabelaghorowei.blogspot.com

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  19. Omg
    www.christabelaghorowei.blogspot.com

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  20. OMG serves him rite,ha ha ha dnt mess with a wyt woman,ha ha ha he thut he's dealing with an african woman use n trway o boy pay ur bills cos u v been fuckn dat mama sinx ages na,ha ha

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  21. Please Ladun get your facts right, the lady is also a Nigerian by birth and not oyinbo. she is fulani

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    1. please stop perpetuating this crap. she is not nigerian. she is british. this is not dehinde fernandez whose wife is yes hausa. Not fulani either but from the north

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    2. @5.10 are u 4 real, perpetuating what crap ???. I am related 2 d family and Aunty Yasmin is grew up in d north . She is mixed race or what we use 2 call half caste . 1 of her parent is Naija . What has Fernandez got to do with her. So if Fernandex wife is from the North then others cant be from the North.

      Your comment takes the cake for foolishness..... Aunty Yasmin proudly says she is Nigerian tooo so dont wrap head untop another person matter. She is proud of her heritage. Aunty Amina also claims to be Nigerian . There is something called Dual nationality .

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  22. This lady is also a Nigerian as well , a fulani for that matter

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  23. Good for her! The man is not taking all that money to heaven.

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    Ladun thanks for posting o.

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  24. Every black man is entitled to chose a wife from any ethnic background and for any reason. If he chooses to marry a white woman, he is perfectly in his rights to enjoy the perceived status and "peace of mind" that women are supposedly supposed to provide. However, he must surely live with his choice when things don't go well. He must NOT complain when the white woman wakes up on a fine Sunday morning after 10+ years of marriage and decides she is no longer in love and demands a divorce. He must not utter a beep when the courts decide that she gets 50% of his wealth and also throws in full-custody of the kids. These are the risks he chose to bear when he made his marriage vows.

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    1. Very intelligently said!

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    2. A black woman could do the same ad if she didn't, does it make it right? You support a man leaving his wife and children without a kobo? If deadbeat dads in Nigeria had child support taken from their paycheck before it reaches their, life would be better.
      Let's reason in this country haba

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    3. I have seen this happen to two family members that married American women. Their wives just woke up one day, no fight or anything, and walked out on the marriage. The marriages were peaceful; no abuse, no loud fights, no issues with fidelity on the man's side. Their wives just said they were no longer in love (one of them said she was bored and ready to try new things). They got the house and the kids. One uncle is now living in an apartment at the age of 56.

      I have a co-worker, a pretty 42yr old white lady who walked out of her marriage with her two kids 4 years ago. She tells everyone that her husband didn't do anything. She was just bored with him. Her husband is still begging her and hoping she comes back, even though they have been divorced for years. White women can be crazy, I tell ya. Marry with your eyes wide open and at your own risk.

      I am not saying that Nigerian women don't walk out of their marriages too but they usually do this only after suffering abuse and serial infidelity. Even then, there are usually family members that intervene to try to make the marriage work. Few Naija women will walk out of a peaceful home blessed with children because they are bored or "no longer in love". It's just not that way in our culture.

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    4. shut your mouth....if that is not the case here then we dont need your stupid story.....so she should leave him penniless with her children....foolish nigerian women that y your men treat you like shits, instead of making a case for things to change you talk trash....so nigerian women who sit and suffer abuse and infidelity should continue so they can be heroes......mtchweeeeeeew....i hail her wella

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  25. The lady is Nigerian (mixed race/fulani). Her sister is Amina Zubair former SSA to president on MDG'S.

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  26. That is just a fraction of what he owns. In anycase, he will make or back-oil is still flowing in Nigeria.

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  27. This is not a white woman thing. The question is, when will this law come to play in Nigeria or Africa as a whole? The upper house nor lower house or whatever won't pass such bill, where the woman takes half of your shit when you divorce. Dem go kill the bill sharply..

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  28. I live in England and this women would not be considered white. She might be mixed.

    UKMama

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    1. dont mind these silly nigeria....... the woman is half nigerian self and grew up in the north

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  29. white women will always take a black man for his money. and they will win

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  30. IM SORRY for all the women who actually came to comment on this post saying "he should have married black" You guys should be praying that laws such as this were women in nigeria are protected should be passed and enforced..i pity una if it was a nigerian he married ..he would have chased her away with her 4 kids penniless . she would have gone under bridge to live...with such dirty comments from fellow women ..nigerian women are doomed.

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    1. God bless you. All of them just spouting 'he should have married black' if he'd married a black woman and had kicked her out penniless, would that have been right?
      I just tire for the way our people think.

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  31. Go Aunty Yasmine! Yo thats my aunty, and FYI is is half Nigerian half british (born to a naija parent and a british parent), she deserves it joor, that guy suffered her anyhow

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    1. She resemble half chinese nah? Choi, she come chop my Delta bro money? i dey sad

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  32. Of course, this how a woman should fight in a divorce and never leave with nothing!
    Nigerian women should be wise and not use sentiments in divorce, sentiments of having children for him.

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  33. Is he the owner of that Prest boat cruise thing I've seen in Lekki 1? With regards to this story, all I can say is, you win some you lose some.

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  34. All you fools making noise you all think you are better than white women abi? Hypocrites, is it not on the same blog we read stories everyday of broken Nigerian marriages yet you all come here to open your sanctimonious mouths like you are all better.....so you think white women are fools like Nigerian women where your men cheat, lie, fuck around, marry second wives, beat the shit outa you and leave you sad sorry and with low self esteem.....they made money together so she has every right......am full blooded Nigerian and I don't feel sorry for him......pray the law begins to change to favour women in Nigeria

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  35. good for him. white or black, she deserves the money. she didn't sweat for it, but he was giving her a hard time. no wonder some mixed race childrenw ith black fathers hate black men. mschew. useless man, thinking he was smart. abi he's helen prest's brother. serves him right. i'm not in support of black men marrying white women mostly because the marriage is usually not based on love (mostly on the black man's part) but on "keeping up" and "fittin in". and i always feel bad for the women.

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  36. These things are possible cos whites have seen marriage as a contract and not a communion.
    Too bad. Our society! May God svae us. Amen.

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  37. Am amazed at the fools and idiots who come to blogs and make noise......so cos Nigerian women don't collect money when divorce happens they are now good and the best abi? even foolish women will come here to vomit rubbish....that's y demonic traditions like suffering widows when their husbands die will still continue cos of stupid women who still support it.....Nigerian women will do worse if the courts supports them...not all Nigerians who marry whites do it for money or papers.....Nigerians are such bloody hypocrites, all claiming religious and God fearing yet you all open your mouths and castigate any who marries white..you have good and bad people in all races..our blogs are filled with stories of rubbish that go on in Nigerian marriages yet instead of dealing with a case at hand you all come here to turn it into a white and black issue...bloody hypocrites, are you all better than them?are your comments not equally racist? will you live among a group of people and not interact and ultimately marry them? bloody hypocrites, you run to their countries yet you think they are not good enough to marry....little wonder they see through your hypocrisy and treat you the way you deserve....am full blooded Nigerian and will marry from any part of the world i please, if it works out fine and if not that's my cross to bear....

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  38. She is English mother Nigerian Father. Sister is Amina Ibrahim fmr MDG Goals

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